CA > Long Beach > Poly High (Ph)
Long Beach, CA 90813,1700 Pacific Avenue
Long Beach, CA 90813,1700 Pacific Avenue
Long Beach, CA 90813,1700 Pacific Avenue
7
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$2,095,000
Est. payment /mo
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3 Beds
2 Baths
Price Dropped by $50K

1700 Pacific Avenue Long Beach, CA 90813

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Patty Doyle

Patty Doyle

+1(619) 886-0321

UPDATED:

Key Details

Property Type Multi-Family

Sub Type Res Income 2-4 Units

Listing Status Active

Purchase Type For Sale

Subdivision Poly High (Ph)

MLS Listing ID PW25182296

Bedrooms 3

Property Sub-Type Res Income 2-4 Units

Property Description

Price Reduced! Present All Offers! We are pleased to present a 10 unit investment opportunity located at 1700 Pacific Ave in Long Beach. All major systems have been redone, including new electric (main and sub panels), ABS plumbing systems, new vinyl windows, and the roof is in great condition as well. At a current 5.65% Cap Rate, and 10.96 GRM with upside to a 7.26% Cap Rate and 9.29 GRM, this is priced attractively & below the area average. In addition to all of the major improvements to the property, the tenants benefit from a rear roof deck, onsite laundry room (hookups with no machines), as well as onsite parking. There is ample retail and dining options nearby, and being located just off Pacific Coast Hwy, the central location allows for easy commute to downtown, the beach, and easy access to 710/405 Freeways. The property is also steps away from numerous new construction apartment buildings, retail centers, the $176 million reconstruction of Washington Middle Schools five-acre campus & the $450 million Poly High School campus renovation. In addition to the 29% upside in Net Operating Income, there is even more opportunity with the potential to convert the existing garage and rear parking area + roof deck into ADUs. One can reasonably get an additional 4+ units onsite for additional income and equity growth.

Location

State CA

County Los Angeles

Zoning Assessor

Direction South of PCH inbetween LB Blvd & Magnolia Ave

Interior

Fireplace No

Exterior

View Y/N No

Building

Story 2

Level or Stories 2

Others

Tax ID 7269009013

MLS Router / San Diego MLS
Listed by Shane Young Younglewin Advisors, Inc.

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agent

Patty Doyle

Agent | License ID: 01507441

+1(619) 886-0321

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1700 Pacific Avenue

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